Atlantica Sustainable Infrastructure (NASDAQ:AY) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a report released on Thursday morning. The firm issued a sell rating on the utilities provider’s stock.

Other analysts have also issued reports about the stock. National Bankshares increased their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $22.00 and gave the company a sector perform rating in a research report on Tuesday, May 28th. UBS Group lowered shares of Atlantica Sustainable Infrastructure from a buy rating to a neutral rating and decreased their price target for the company from $25.00 to $22.00 in a research report on Thursday, May 30th. BMO Capital Markets increased their price target on shares of Atlantica Sustainable Infrastructure from $20.00 to $23.00 and gave the company a market perform rating in a research report on Friday, May 10th. Seaport Res Ptn lowered shares of Atlantica Sustainable Infrastructure from a strong-buy rating to a hold rating in a research report on Wednesday, May 29th. Finally, National Bank Financial lowered shares of Atlantica Sustainable Infrastructure from an outperform rating to a sector perform rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $22.67.

Atlantica Sustainable Infrastructure Trading Up 0.0 %

NASDAQ AY opened at $22.05 on Thursday. The company’s 50-day moving average price is $22.14 and its 200-day moving average price is $20.19. The company has a current ratio of 1.55, a quick ratio of 1.50 and a debt-to-equity ratio of 3.25. The stock has a market cap of $2.56 billion, a PE ratio of 47.93, a PEG ratio of 1.31 and a beta of 1.02. Atlantica Sustainable Infrastructure has a 12 month low of $16.35 and a 12 month high of $25.22.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last released its quarterly earnings data on Tuesday, May 14th. The utilities provider reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Atlantica Sustainable Infrastructure had a net margin of 4.94% and a return on equity of 3.33%. The company had revenue of $242.93 million during the quarter, compared to analyst estimates of $240.87 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. Equities research analysts forecast that Atlantica Sustainable Infrastructure will post 0.46 earnings per share for the current year.

Atlantica Sustainable Infrastructure Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.445 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.78 dividend on an annualized basis and a yield of 8.07%. Atlantica Sustainable Infrastructure’s dividend payout ratio is currently 386.96%.

Institutional Investors Weigh In On Atlantica Sustainable Infrastructure

Institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC lifted its holdings in Atlantica Sustainable Infrastructure by 110.8% in the 1st quarter. Lazard Asset Management LLC now owns 9,826,614 shares of the utilities provider’s stock valued at $181,595,000 after purchasing an additional 5,164,084 shares in the last quarter. Norges Bank purchased a new position in Atlantica Sustainable Infrastructure in the 4th quarter valued at $15,487,000. Westwood Holdings Group Inc. lifted its holdings in Atlantica Sustainable Infrastructure by 140.3% in the 4th quarter. Westwood Holdings Group Inc. now owns 448,473 shares of the utilities provider’s stock valued at $9,642,000 after purchasing an additional 261,825 shares in the last quarter. Swedbank AB purchased a new position in Atlantica Sustainable Infrastructure in the 1st quarter valued at $4,103,000. Finally, Tritonpoint Wealth LLC purchased a new position in Atlantica Sustainable Infrastructure in the 4th quarter valued at $4,007,000. Institutional investors and hedge funds own 40.53% of the company’s stock.

About Atlantica Sustainable Infrastructure

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.